OREANDA-NEWS. April 23, 2010. GenCo Dniproenergo <DNEN UK U/R> finished 1Q2010 with losses of UAH 12.968mn, which is twice less than in 1Q2009. At the same time, the Company managed to increase its net sales by 37.36% to UAH 1,408.084mn, compared with the relevant period in 2009.

Millennium Capital sees this news as negative. Dniproenergo is forced to supply electricity at prices set by the State, but today they are lower then the prime cost of electric power generation. In the year 2010, NERC plans to increase electricity prices for households by 30-70%. Millennium Capital believes this can improve Dniproenergo’s financial performance going forward.